Strategy Analytics predicts that 26 percent of broadband households in the world will have at least one smart home system by 2019 according to its Smart Home Strategies (SHS) advisory service forecast, “2014 Smart Home Systems and Services Forecast: Global Total.”
Revenues in the US will account for nearly 40 percent of the global total in 2014 with 21 million households spending a total of $17.9 billion on smart home systems, but its portion will drop off as markets in Western Europe and China takeoff.
Growth in the US is being fuelled by the entrants of big brands including Apple, AT&T, Comcast, GE, Google and Samsung along with big-box retailers Home Depot, Lowe’s and Staples. Security monitoring married with home automation capabilities is the primary application driving total US revenue to reach nearly $40 billion by 2019. In addition, the introduction of elegant single-purpose devices from a long list of companies including Belkin, Dropcam, Nest and Piper are enticing consumers to sample the Smart Home.
“Consumers are being hit with TV ads from AT&T, articles in the general press about Apple’s home automation initiatives and Google’s ambitions to help consumers build a ‘conscious home’ with products from its Nest subsidiary,” explains Bill Ablondi, Director, Smart Home Strategies advisory service and developer of the forecast. ”It’s becoming increasingly easy and affordable to set up smart home devices and now companies that will make it ‘cool’ are players.”
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